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Audit of fixed asset

sunil vyas (M.COM CS(Professional) CA (final)(Senior Executive )) (225 Points)

06 February 2012

hi i m sunil

i m working for a reputed ca firm for a month .i have been givin the responisibility to conduct audit of fixed assets .i dont have previous experiense as such to how to conduct audit of fixed assets.can any body can help me what all points to keep in mind while doing audit of fixed assets.the scope is given below

Capex – Budgeting and planning
Project monitoring
Project evaluations
Vendor selection and order placement
Asset receipt procedures
Capitalization and Asset register maintenance
Depreciation accounting
Disposal accounting

can any body help me out?

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2 Replies

RICHA JAIN (CA) (38 Points)
Replied 06 February 2012

Originally posted by : sunil vyas
	hi i m sunil i m working for a reputed ca firm for a month .i have been givin the responisibility to conduct audit of fixed assets .i dont have previous experiense as such to how to conduct audit of fixed assets.can any body can help me what all points to keep in mind while doing audit of fixed assets.the scope is given below Capex – Budgeting and planning Project monitoring Project evaluations Vendor selection and order placement Asset receipt procedures Capitalization and Asset register maintenance Depreciation accounting Disposal accounting can any body help me out?